TOKYO, Nov 26, 2018 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce that it has entered into a capital alliance agreement with Rhelixa Co., Ltd. for 135 million yen via the acceptance of third-party allocation of shares.
Rhelixa is a biotechnology startup with strengths in analyzing epigenome information. As Japan's society ages, the number of patients with cancer, dementia and other chronic conditions associated with age are also on the rise. It is known that many of these conditions are caused by aberrant epigenetic regulations. Being fundamental mechanisms for every organism, however, these epigenetic regulations can be applied in analyzing these conditions and coming up with methods for treatment and prevention.
In addition, conducting epigenome analysis in animals and plants is expected to lead to the development of advanced cultivation and breeding technologies in agriculture, livestock and fishery that are more efficient and have less impact on the environment. In other words, epigenome analysis is expected to lead to the advancement of therapeutic and preventive technology and thereby contribute to the improving quality of life for many people.
Under the alliance, MC dispatches a director to Rhelixa and, by combining its broad business base, global networks and comprehensive capabilities with the proprietary technologies of Rhelixa, is aiming to build a new business model that will help improve Rhelixa's corporate value.
In addition, this alliance is being executed under the In-House Business Incubation Program introduced on a trial basis by MC's Living Essential Group in 2018. Its aim is to promote the development of businesses that contribute to the creation of consumer value and to human resource development. Through this and similar approaches, MC will continue to support the business initiatives of employees as it pursues the challenge of creating new value that will solve social issues.
About Mitsubishi Corporation
Mitsubishi Corporation, headquartered in Tokyo, is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. For more information on Mitsubishi Corporation, please visit the company's website at https://www.mitsubishicorp.com/jp/en/.
Telephone: +81 3 3210 2171
Facsimile: +81 3 5252 7705
Nov 26, 2018 13:33 HKT/SGT
Source: Mitsubishi Corporation
Mitsubishi Corporation (TSE: 8058)
Topic: Press release summary
Sectors: Daily News, Venture Capital
From the Asia Corporate News Network
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